BUCHAREST (Romania), September 12 (SeeNews) – Polish technology group Wirtualna Polska Holding announced on Monday the acquisition of Hungarian group Szallas, which operates online travel portals in Romania, Croatia, Poland and the Czech Republic, for 82 million euros ($83.3 million). ).
Wirtualna Polska is buying shares in Hungarian private equity and venture capital firm PortfoLion Capital Partners, which is also a member of OTP Group and several Szallas founders and individuals, it said in a press release.
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The transaction is expected to be finalized this fall.
Through subsequent acquisitions and organic growth, Szallas Group provides accommodation reservation services to customers in Hungary, Czech Republic, Romania, Poland and Croatia with four major brands.
In Romania, the company operated the Travelminit online portal. In the five markets covered by its activities, the group offers accommodation in a total of 87,000 establishments.
“Our long-term goal is to turn the Travelminit platform into the No. 1 in the hotel booking market in Romania, offering a pleasant booking experience and the widest local range at the lowest price,” said Travelminit in a social media post announcing the acquisition.
Szallas Group was established in 2007 in Hungary and its accommodation booking site is currently the top choice brand for local travelers. Since 2016, the company has been expanding its activities to other Central and Eastern European countries.
Founded in 1995, Wirtualna Polska is a group of companies operating in the media and e-commerce sectors.